EU Approves French Shipbuilding Plan

Wednesday, May 17, 2006
The European Commission said it approved a guarantee system planned by the French government to step up investment for its shipbuilding industry. Under the scheme, guarantees will be granted to financial institutions providing loans to French shipyards to finance the construction of large ships with a contract value above $51m. The state guarantee for the loans will reach a maximum of 80 pct. Guarantee premiums will be charged and vary according to the risk on a case by case basis. The premium level will cover the risks of payments and the administrative costs of the scheme, the EU executive added. The commission said the scheme does not constitute state aid and does not threaten to distort competition. (Source: Forbes)

Shipbuilding

NASSCO Christens LNG-ready Tanker Constitution

On Saturday, August 27, shipbuilders at General Dynamics NASSCO celebrated the christening and launch of the Constitution, the sixth ship in a series of eight eco-friendly

California: A Strong Shipbuilding State

Fifth in the nation for direct employment, California shipbuilding and repair industry supports nearly 35,000 jobs; Maritime Administrator highlights economic importance

Intermarine's Industrial Skipper Completes Maiden Voyage

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Coast Guard

Caribbean Fantasy Fire Extinguished

A fire that broke out aboard the passenger vessel Caribbean Fantasy at 7:42 a.m. on August 17 has been extinguished, and the vessel has been moored safely in port.

Coast Guard Foundation Awarded 128 Scholarships

The Coast Guard Foundation, a non-profit organization committed to the education and welfare of all Coast Guard members and their families, announced today that

Indian Cargo Ship Sinks Off Oman

An Indian cargo ship loaded with vehicles and food supplies destined for Yemen sank on Saturday off the coast of Oman but without loss of life, Oman’s ONA state news agency reported.

 
 
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